Tabcorp shares delivered a strong performance Wednesday, surging 23.53% to close at A$1.05 after the wagering and media company reported a 61.5% jump in half-year profit and raised its dividend by 50%, signalling a successful turnaround under new management.

Tabcorp reported financial results for the half-year ending 31 December 2025 that exceeded market expectations across key metrics.

Group revenue increased modestly by 1% to A$1,344.9 million, while EBITDA before significant items climbed 14.3% to A$217.4 million. The standout figure was net profit after tax before significant items, which surged 61.5% to A$35.7 million.

The company’s Wagering & Media division, which represents the core of Tabcorp’s operations following the lotteries divestment, delivered EBITDA growth of 15.8% to A$181.4 million. This performance was driven by stronger customer engagement, improved product offerings, and successful integration of digital and retail channels.